The 41-year-old had already announced that he would retire after World Twenty20 to become the Umpire Performance and Training Manager with the ICC.
In an outstanding career, Taufel umpired in 74 Tests and 174 ODIs with his last Test and ODI appearances being at Lord's a month ago in matches featuring England and South Africa.
Taufel won the ICC Umpire of the Year award for five successive years from 2004 to 2008.
Taufel along with Pakistan's Aleem Dar will be the on-field umpires for the final between Sri Lanka and West Indies.
Rod Tucker and Ian Gould have been appointed the third and fourth umpires respectively. Match referee for the game would be Jeff Crowe, an ICC release said.
Meanwhile, for the women's final between Australia and England, Billy Bowden and Marais Erasmus will be the two on-field umpires.
Tony Hill will be the third umpire while Nigel Llong will be the fourth umpire for the eves' game.
Graeme La Brooy will be the match referee.
